W
WebBoard
Guest
From: Anonymous
I'm about to form a trust in which to hold my (future) properties.
However I am not fully across how they work. This may sound like a silly question but how do you purchase a property using a trust. I beleive that the property would be held in the individual's name on behalf of the trust. If this is the case do you just inform the conveyancer when you are purchasing? Does the bank need to be informed as well? and does it affect borrowing capacity??
And what would happen if the individual dies and the house is in their name?
Thanks
Tony
I'm about to form a trust in which to hold my (future) properties.
However I am not fully across how they work. This may sound like a silly question but how do you purchase a property using a trust. I beleive that the property would be held in the individual's name on behalf of the trust. If this is the case do you just inform the conveyancer when you are purchasing? Does the bank need to be informed as well? and does it affect borrowing capacity??
And what would happen if the individual dies and the house is in their name?
Thanks
Tony
Last edited by a moderator: